ST: ComfortDelGro expands Aussie bus operations
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From today's Straits Times:
Newcastle is about 200km north of sydney. it was the area which experienced heavy storms 1 month agoTRANSPORT giant ComfortDelGro has bought another New South Wales (NSW) bus firm, its second Australian deal in 20 months, and with indications of more to come.
It has paid A$14.5 million (S$19 million) for Toronto Bus Services, which runs 84 buses out of three depots in the Newcastle region north of Sydney.
The deal - done through a unit of 51 per cent-owned ComfortDelGro Cabcharge - adds to the group's fleet of about 750 buses in Australia.
It also gives ComfortDelGro Cabcharge 24 per cent of the NSW bus business.
ComfortDelGro Cabcharge deputy chairman Reginald Kermode told The Straits Times earlier that 'we'd like to have our footprint right across Australia'.
The purchase is not expected to have any material impact on the firm's net tangible assets per share and earnings per share for this year.
It comes a week after ComfortDelGro forked out 84 million yuan ($16.8 million) for a taxi joint venture in Nanjing, China. It was the group's first investment in the capital of Jiangsu province, bringing to 13 the number of cities in which it operates in China.
In all, ComfortDelGro has spent more than $800 million to date in its overseas thrust.
But recently, the group and its local rival SMRT Corp lost out to British-based services group Serco in a bid to run a new rail system in Dubai.
Serco has won the contract, said to be worth about £400 million (S$1.22 billion), to operate and maintain the first two lines of the Dubai Metro. The 70km lines will be running in 2009.
It is understood that future portions of the Metro, which will have an eventual network of 300km, will be up for tender in the coming years.
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yes i saw the article. great to see "SBS" has B12BLE nice...
ZYX -
in a similar report in TODAY, it also mentioned CFDG is building another assembly plant and a new 3ha bus depot in singapore
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Finally bndep gets a new depot... high time... unless they wanna replace arbp cos the land is currently on loan....Originally posted by 105090:in a similar report in TODAY, it also mentioned CFDG is building another assembly plant and a new 3ha bus depot in singapore -
Eh CNA said one depot and one bus assembly plant in Australia.Originally posted by 105090:in a similar report in TODAY, it also mentioned CFDG is building another assembly plant and a new 3ha bus depot in singapore -
?? arbp's land is on loan? sbst cannot buy over the land?Originally posted by service_238:Finally bndep gets a new depot... high time... unless they wanna replace arbp cos the land is currently on loan.... -
the papers phrased it such that it sounded like in singaporeOriginally posted by Scania:Eh CNA said one depot and one bus assembly plant in Australia.
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From the annual report:Originally posted by BusSpeeder:?? arbp's land is on loan? sbst cannot buy over the land?
Land Tenure
arbp and bndep - Under Temporary Occupation License Issued by Land Authority of Singapore
slbp - 30 years from 1st Apr 00
bbdep and hgdep - 30 years from 1 Jan 83
amdep - 15 years from 1 Mar 94 -
Originally posted by service_238:
2 more yrs for AMDEP...
From the annual report:
Land Tenure
arbp and bndep - Under Temporary Occupation License Issued by Land Authority of Singapore
slbp - 30 years from 1st Apr 00
bbdep and hgdep - 30 years from 1 Jan 83
amdep - 15 years from 1 Mar 94